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7 Skip purchased a three-year, 8% coupon rate $1,000 bond for $950. Thus, he will receive $80 per year each year along with the lump sum payment of $1,000 in year 3 as shown below. Enter the data in your calculate and determine the market rate for the bond (no decimal point-.e., 9%, 10 % or 11%). Using that effective rate of interest. complete the bond amortization below /=? year 1 year 2 year 3 0 -$950 n Financial Calculator: 1 PV PMT FV 1 Beginning Balance $950 $80 3 -950 80 1000 Add Interest ?% 2 $80 Less: payment $80 $80 $1,080 3 $1,080 Ending Balance